Maiyue Technology reported unaudited interim results for the six months ended 30 June 2026 (1H26).

Revenue and profitability • Revenue rose 84.5% year on year to RMB 44.44 million, driven mainly by a 354.3% surge in hardware and software sales to RMB 33.82 million. • Gross profit increased 9.3% to RMB 7.30 million, while gross margin narrowed to 16.4% from 27.8% a year earlier, reflecting the higher contribution of lower-margin hardware sales. • Net loss widened 53.8% to RMB 16.42 million, and basic loss per share expanded to RMB 0.03 from RMB 0.02. • The Board declared no interim dividend.

Segment performance • Integrated IT solution services revenue fell 31.5% to RMB 9.09 million. • Stand-alone IT services revenue declined 54.5% to RMB 1.53 million. • Hardware and software sales accounted for 76.1% of total revenue, up from 30.9% in 1H25.

Expense and cash-flow highlights • Selling expenses dropped 10.7% to RMB 3.36 million, equal to 7.6% of revenue. • Administrative expenses rose 26.1% to RMB 17.63 million, mainly on higher depreciation and amortisation. • R&D spending decreased 31.6% to RMB 0.59 million, or 1.3% of revenue. • Finance costs declined 13.3% to RMB 6.50 million. • Net reversal of impairment on trade receivables and contract assets totalled RMB 3.02 million.

Balance-sheet position at 30 June 2026 • Cash and cash equivalents stood at RMB 15.61 million, down from RMB 58.96 million at end-2025. • Trade receivables were RMB 490.82 million, of which 78.7% were past due. • Bank and other loans amounted to RMB 233.04 million, with 96.2% classified as current. Secured borrowings are backed by RMB 146.26 million of receivables and property, plant and equipment. • Net current assets were RMB 225.44 million, and total equity was RMB 301.25 million.

Operational developments During the period, the company continued to invest in AI-centric solutions, including China-ASEAN corpus management and language-parsing systems, complemented by new interactive hardware such as AI and AR glasses. Management plans to enhance self-developed products, deepen R&D collaboration with tertiary institutions, and pursue partnerships in Mainland China and Southeast Asia.

No material acquisitions, disposals or post-period events were reported.